Week ending Sept.29: Investors stay optimistic amid doom and gloom.
Despite a host of worrying economic data--rising inflation, a softening housing market, and rebounding energy prices--investors remained optimistic. The Morningstar US Market Index finished up 1.6% for the week ending Sept. 29, and posted a robust 4.61% for the quarter.
The Morningstar Market Barometer brimmed with shades of green, as even the worst-performing index--the Morningstar Small Core Index--managed to post returns of 0.8% for the week. And the much-awaited large-growth rally might be around the corner. The Morningstar Large Growth Index surged 2.1% for the week, pushing it into the black for the year, making it the best performer among the nine Morningstar style indexes last week. The Morningstar Large Value Index still leads the pack with a gain of 16% for the year to date.
The Morningstar Small Core Index got a boost from one of its largest holdings, Conexant Systems